Does cheap auto insurance for high-risk drivers exist?

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Things to remember...

  • Auto insurance rates vary significantly from one carrier to the next
  • Drivers with a history of problems on the road may have trouble finding affordable insurance coverage
  • At a minimum, the high-risk driver shopping for car insurance should obtain three quotes

While it may be true that drivers who have a damaged driving history pay higher insurance premiums typically, it is still possible for such drivers to find competitive auto insurance rates.

Doing so requires quite a bit of comparison shopping, but the savings definitely make this worthwhile. Use our FREE auto insurance comparison tool to compare rates right now by entering your zip code above!

How Insurance Rates Are Determined

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Auto insurance rates vary significantly from one carrier to the next. These rates may be based on a number of factors that have nothing to do with the driver’s personal driving record.

Some insurance carriers simply charge more because they have a smaller market share or provide more individualized customer service.

Still, a driver’s record can affect their insurance rates. Drivers with a history of problems on the road may have trouble finding affordable insurance coverage. Some of these driving problems may be:

Some of these driving problems may be:

  • a DUI or DWI
  • multiple moving violations
  • history of suspended or revoked drivers license
  • multiple at-fault accidents

Having any one or more of these incidents on a driving record can make getting inexpensive car insurance tricky. In fact, some insurance carriers may not even be willing to provide coverage to drivers they consider high risk.

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Speciality Car Insurance Carriers

Other insurance companies actually specialize in providing coverage to drivers that other companies consider too high of a risk. These companies may charge higher premiums, but they also provide comprehensive and necessary protection.

The rates offered by car insurance companies that specialize in protecting high-risk drivers are likely to show a high degree of variance. Consumers should never assume that the first quote they receive is the best or only one for which they are eligible.

Comparison Shopping

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At a minimum, the high-risk driver shopping for car insurance should obtain three quotes. Each quote should be evaluated on an even basis. When comparing cheap auto insurance quotes for high-risk drivers consider the following questions:

  • What is the monthly premium?
  • How much is the deductible?
  • What kind of coverage is offered?
  • Are there discounts for having multiple policies?
  • Are the premium rates likely to change throughout the life of the policy?

A good insurance policy for high-risk drivers will be furnished by an agent who can appreciate the driver’s ability to improve their driving record.

As tickets and other infractions fall off of the driver’s record this improvement should be reflected in the price of the insurance premiums. If the current policy does not allow for such changes, then it may be time to shop for new cheap auto insurance online.

As the driver’s record improves they may be able to move to another insurance company that does not specialize in high-risk drivers, resulting in significant savings year after year.

Other High-Risk Drivers

Some people may find that they are classified as a high-risk driver by some insurers even when they do not have any moving violations. These drivers may be:

Although none of these factors necessarily means that the driver is incompetent or incautious an insurance company can still use such reasons to charge higher premiums. Once again, shopping around can be the best way to combat this.

Auto insurance companies use statistics to help determine how much of a risk a certain driver poses. Unfortunately, it is difficult, if not impossible, to persuade insurers to deviate from the information provided by statistics. However, not all insurers use the same statistics, so this makes it possible to find different rates from different car insurance providers.

However, not all insurers use the same statistics, so this makes it possible to find different rates from different car insurance providers.

Other Ways to Save

Even drivers who are considered high risk can find ways to save on car insurance premiums. Setting a higher deductible is one quick and easy way to save on premiums.

A deductible is an amount the insured is responsible when a claim is made. A deductible of $100 is attractive, but the insured will pay higher monthly premiums. It may make more long-term economic sense to select a $500 deductible that provides much lower monthly payments.

It may make more long-term economic sense to select a $500 deductible that provides much lower monthly payments.

Another way for high-risk drivers to reduce their car insurance premiums is by driving cars that are considered low risk. A flashy sports car will cost a great deal more to insure than a sedate family vehicle. This is because in the event of a claim being made the family vehicle will be cheaper to repair or replace than the sports car.

This is because in the event of a claim being made the family vehicle will be cheaper to repair or replace than the sports car.

Avoid Unnecessary Costs

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High-risk drivers can also save on insurance by electing not to buy unnecessary coverage. It may not make sound economic sense to have collision or comprehensive coverage on a car that is many years old.

Does it cost more to insure the vehicle on an annual basis than it is to replace it? If so, then it may make sense to go with just a bare bones policy.

As time goes by, the high-risk driver who starts building a clean driving record should see a reduction in their premiums.

Although coverage may initially seem expensive, it is far more expensive to be caught driving without insurance, and comparison shopping is the key that keeps expenses to a minimum even if they are initially high.

Drivers considered high risk by insurers will pay more than drivers who are considered low risk. However, given time and good driving habits, this situation should begin to improve.

Performing some comparison shopping before choosing a policy is the best way to ensure getting good value for the driver’s hard earned money.

Enter your zip code into our FREE comparison tool to start seeing what values you could be getting right away!

FREE Auto Insurance Comparison

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